IoD slams Rolls-Royce CEO's £960,000 bonus after company reported earnings plunge

Rolls-Royce’s decision to award Chief Executive Officer Warren East a bonus of £916,000 even after the aero-engine maker’s full-year earnings plunged was ill advised, according to the Institute of Directors, which represents UK business leaders.

Mr East was handed the payout after underlying pretax profit fell 49 per cent to £813m in 2016, with only a “modest” improvement forecast this year. While the CEO has cut 700 middle-management posts since taking over in 2015, he has yet to detail plans for restructuring weaker parts of the group.

“Bonuses need to be

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